How Low Can It Go?

That Guy · 03-10-2009, 09:23 PM

Quote:

Originally Posted by 70Chip

So do you and everyone else take profits tomorrow and send it way back down?

it'd be the safer move, maybe go back into bear market stocks (short sales), but i'll let it ride, since i only have this year's roth contribution in that account... if it were a million i'd probably treat it differently, since that'd be over a year's living expenses in one day

Miller101 · 03-11-2009, 11:04 AM

Quote:

Originally Posted by 70Chip

Big rally in Wall Street today. The Dow is back above 6900. The updated numbers are in Post #1.

That can't be!

Obama's spending bill was being voted on by the senate when the rally happened. There is no way that the market could have gone up! Click on a link from Fox News if you don't believe me!

saden1 · 03-11-2009, 11:49 AM

God damn it, why the hell isn't short selling illegal?

Schneed10 · 03-11-2009, 11:58 AM

Quote:

Originally Posted by saden1

God damn it, why the hell isn't short selling illegal?

Because over the long haul it has no impact.

saden1 · 03-11-2009, 01:31 PM

Quote:

Originally Posted by Schneed10

Because over the long haul it has no impact.

This is true, it is also true that you can use that line for anything and everything whose short term impact you want to marginalize. This not a good enough reason not to do anything.

Schneed10 · 03-11-2009, 01:38 PM

Quote:

Originally Posted by saden1

This is true, it is also true that you can use that line for anything and everything whose short term impact you want to marginalize. This not a good enough reason not to do anything.

I'd vehemently disagree. You shouldn't be investing in the stock market for the short term at all. If you are, you might as well head to Vegas.

If you're investing in the stock market wisely then you're doing it with money you don't need for a long time, and you're letting it sit for a long time.

If you're not doing the above, then you're somewhat retarded (daytraders excluded, because they understand short-term risks and are willing to accept the consequences).

saden1 · 03-11-2009, 01:43 PM

Quote:

Originally Posted by Schneed10

I'd vehemently disagree. You shouldn't be investing in the stock market for the short term at all. If you are, you might as well head to Vegas.

If you're investing in the stock market wisely then you're doing it with money you don't need for a long time, and you're letting it sit for a long time.

If you're not doing the above, then you're somewhat retarded (daytraders excluded, because they understand short-term risks and are willing to accept the consequences).

It's not about me (the average Joe), it's about people (hedge fund managers) purposefully betting against a company, playing shell games, knocking the company down and then cashing it in. They are in fact gaming the system.

saden1 · 03-11-2009, 01:48 PM

I'd also point out that gaming companies in their time of need for cash can in fact put them out of business. We "have" the Uptick rule for that reason, unfortunately it isn't good enough.

That Guy · 03-11-2009, 03:40 PM

short selling and buying on margins aren't generally the best of things, but corrupt hedge fund management (like kramer disucsses, which is the norm) and the financial industry and congress/lobbyists/etc all pushing each other for less regulation are bigger issues.

and a unjustified negative perception CAN kill a good (smaller) business without a huge cash reserve.

70Chip · 03-11-2009, 04:00 PM

Quote:

Originally Posted by Miller101

That can't be!

Obama's spending bill was being voted on by the senate when the rally happened. There is no way that the market could have gone up! Click on a link from Fox News if you don't believe me!

Anyone trying to parlay a single day on Wall Street into a political argument is playing a fool's game. That's why this thread has been largely civil. No one knows what the hell is going to happen next, so everyone is loathe to take credit for an upswing because they don't want to have to own tomorrow's downswing.

dmek25 · 03-17-2009, 07:39 PM

Housing starts take surprising jump in Feb.
Wall Street closes strong; Dow up 179 points
hopefully the beginning of good things to come

dmek25 · 03-17-2009, 07:41 PM

sorry, something up with the links

70Chip · 03-17-2009, 08:17 PM

The Dow had had a good 6 days. Perhaps we have seen the bottom. If so, congratulations to Matty, Jsarno, and Schneed for being the closest. However, I think we will wait a while longer to make sure.

Schneed10 · 03-17-2009, 09:57 PM

Quote:

Originally Posted by 70Chip

The Dow had had a good 6 days. Perhaps we have seen the bottom. If so, congratulations to Matty, Jsarno, and Schneed for being the closest. However, I think we will wait a while longer to make sure.

On a bottom you should actually wait a year or so to see if it's a real bottom or not.

saden1 · 03-18-2009, 01:08 AM

It's b.s. rally, big boys playing big games. Nothing has changed really.

03-11-2009, 11:49 AM	#153
saden1 MVP Join Date: Feb 2004 Location: Seattle Age: 45 Posts: 10,069	Re: How Low Can It Go? God damn it, why the hell isn't short selling illegal? __________________ "The Redskins have always suffered from chronic organizational deformities under Snyder." -Jenkins

03-11-2009, 01:48 PM	#158
saden1 MVP Join Date: Feb 2004 Location: Seattle Age: 45 Posts: 10,069	Re: How Low Can It Go? I'd also point out that gaming companies in their time of need for cash can in fact put them out of business. We "have" the Uptick rule for that reason, unfortunately it isn't good enough. __________________ "The Redskins have always suffered from chronic organizational deformities under Snyder." -Jenkins

03-11-2009, 03:40 PM	#159
That Guy Living Legend Join Date: Jun 2004 Location: VA Age: 42 Posts: 17,553	Re: How Low Can It Go? short selling and buying on margins aren't generally the best of things, but corrupt hedge fund management (like kramer disucsses, which is the norm) and the financial industry and congress/lobbyists/etc all pushing each other for less regulation are bigger issues. and a unjustified negative perception CAN kill a good (smaller) business without a huge cash reserve.

03-17-2009, 07:39 PM	#161
dmek25 MVP Join Date: Oct 2005 Location: lancaster,pa Age: 63 Posts: 10,672	Re: How Low Can It Go? Housing starts take surprising jump in Feb. Wall Street closes strong; Dow up 179 points hopefully the beginning of good things to come __________________ "It's better to be quiet and thought a fool than to open ones mouth and remove all doubt." courtesy of 53fan

03-17-2009, 07:41 PM	#162
dmek25 MVP Join Date: Oct 2005 Location: lancaster,pa Age: 63 Posts: 10,672	Re: How Low Can It Go? sorry, something up with the links __________________ "It's better to be quiet and thought a fool than to open ones mouth and remove all doubt." courtesy of 53fan

03-17-2009, 08:17 PM	#163
70Chip Playmaker Join Date: Jan 2006 Location: Manassas Age: 53 Posts: 3,048	Re: How Low Can It Go? The Dow had had a good 6 days. Perhaps we have seen the bottom. If so, congratulations to Matty, Jsarno, and Schneed for being the closest. However, I think we will wait a while longer to make sure. __________________ This Monkey's Gone to Heaven

03-18-2009, 01:08 AM	#165
saden1 MVP Join Date: Feb 2004 Location: Seattle Age: 45 Posts: 10,069	Re: How Low Can It Go? It's b.s. rally, big boys playing big games. Nothing has changed really. __________________ "The Redskins have always suffered from chronic organizational deformities under Snyder." -Jenkins

How Low Can It Go?

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